Cryptocurrency |Reference | Start a Business | Financing

What is a Cryptocurrency?

A cryptocurrency is a digital currency secured by cryptography. Cryptocurrencies are decentralised networks based on blockchain technology. The currency requires a key and if lost is almost impossible to open. The cryptocurrency is difficult to counterfeit, duplicate or double-spend.

Businesses can raise capital for their companies using some form of cryptocurrency. The process is:

  • Create an NFT that is a token.
  • Decide what asset/product/service will be associated with the NFT
  • Put the NFT up for sale.